Also known as gift aid, this is money from the federal and state governments and individual colleges that does not need to be paid back.

Monetary gifts based on need/ merit that don't have to be paid back

Federally sponsored campus-based program that provides employment opportunities for students with demonstrated need

Money available to be borrowed that is guaranteed by federal govt. and are available to students to fund education

Need-based loan in which the interest is paid by the government while you are in school

Government sponsored loan that is not need-based. The student is responsible for paying the interest on the loan

These types of loans typically require a co-signer and come from banks, credit unions, and home equity

Borrowed money available to students through the college or university that they attend.

The total amount of interest you pay each year represented as a percentage of the loan balance

An additional borrower whose name appears in the loan documents. This person is also responsible for paying the loan back.

the measure of your financial strength. represented as a number under 850.

A reduction in the money owed, usually represented as as a percentage.

The cost of borrowing money, typically expressed as an annual percentage rate (APR)

Legally binding contract in which by signing you agree to pay back the student loan(s) you borrow an agree to all terms and conditions

Free Application for Federal Student Aid

The person on campus to whom you pay tuition and associated fees

The Maryland financial aid system that allows students to apply for state sponsored scholarships and grants

Notification of the terms and requirements of the financial aid package offered by a college

Person or organization that allows individuals to borrow money usually at a higher rate than a bank